Beijing and Brussels in High-Stakes Talks to Avert an EV Trade War
Listen to the full version
China and the European Union are in talks to increase consultations over the EU’s anti-subsidy investigation into Chinese electric vehicles (EVs), aiming to cool escalating trade tensions.
China hopes both parties can meet each other halfway and find a mutually acceptable solution, He Yadong, spokesman for the Ministry of Commerce, said Thursday.
The European Commission said earlier this month it would provisionally impose extra tariffs on EVs shipped from China, taking total levies to as much as 48%, to offset state subsidies that are enabling Chinese EV-makers to undercut their EU rivals. These will come into force by July 4, with final levels set by November.
Download our app to receive breaking news alerts and read the news on the go.
Get our weekly free Must-Read newsletter.
- RELATED
- DIGEST HUB
Digest Hub
Back
- China and the EU are negotiating to reduce trade tensions concerning the EU's anti-subsidy investigation into Chinese EVs, which could lead to up to 48% tariffs by November.
- China's Ministry of Commerce announced an anti-dumping investigation into EU pork following the EU's tariff decision on Chinese EVs.
- Germany opposes the EU’s tariff hikes, fearing adverse impacts, while officials from both regions are showing openness to further consultations.
- BYD Co. Ltd.
- BYD Co. Ltd. is one of China's biggest automakers targeted by the EU's anti-subsidy investigation into Chinese electric vehicles (EVs). The EU's investigation and subsequent tariffs aim to counteract state subsidies that allegedly enable Chinese EV makers like BYD to undercut their European rivals. This has led to escalating trade tensions between China and the EU.
- Zhejiang Geely Holding Group Co. Ltd.
- Zhejiang Geely Holding Group Co. Ltd. is one of China's biggest automakers targeted by the EU's anti-subsidy investigation into Chinese electric vehicles (EVs). The investigation could lead to extra tariffs on EVs shipped from China to the EU. Chinese carmakers, including Geely, have urged Beijing to impose tit-for-tat taxes on European cars in retaliation.
- SAIC Motor Corp. Ltd.
- SAIC Motor Corp. Ltd. is one of China's biggest automakers targeted by the EU's anti-subsidy investigation into Chinese electric vehicles (EVs). The EU aims to impose extra tariffs on EVs from SAIC and other Chinese manufacturers to counteract state subsidies, potentially hiking levies to as much as 48%.
- October 2023：
- The EU launched its anti-subsidy investigation targeting Chinese EV makers BYD Co. Ltd., Zhejiang Geely Holding Group Co. Ltd., and SAIC Motor Corp. Ltd.
- January 2024：
- China announced an anti-dumping investigation into European brandy.
- June 12, 2024：
- The EU announced provisional tariffs on EVs shipped from China.
- June 2024：
- The European Commission indicated that additional tariffs on Chinese EVs would take total levies to as much as 48%, which will come into force by July 4, 2024.
- June 22, 2024：
- China’s Minister of Commerce Wang Wentao and EU trade chief Valdis Dombrovskis held video talks and agreed to initiate consultations on the EV investigation.
- Thursday, 2024-06-27：
- Chinese Ministry of Commerce spokesman He Yadong expressed China's hope for a mutually acceptable solution with the EU.
- GALLERY
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新